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Jade Protocol Faces Calls to Liquidate $31M Token Treasury

The native token of crypto club Jade Protocol surged Wednesday after a longtime member proposed the decentralized autonomous organization (DAO) liquidate its $31 million treasury and issue redemptions to token-holders. Jade Protocol is an investment group that sources early-stage crypto deals. Its JADE token – which trades on the Avalanche and BSC blockchains – is currently an access ticket into the community. Under the “Dissolve DAO” call-to-action posted earlier this week, JADE would instead become a cash out. In his Sep. 25 proposal, a member with the screen name VampireOfCrypto cited darkening regulatory skies that he said are slowing Jade’s progress and imperiling all DAOs.

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